Nifty drops 21 pts to one-week low of 6,034.75 in dull trade

Exchange

In a listless trade today, the S&P CNX Nifty of the National Stock Exchange declined by 21 points to close at one-week low of 6,034.75 on profit-selling on the last of January contracts today.

Finance, service and private bank shares fell on selling while some of the PSU bank, media and FMCG stocks were in demand. Brokers attributed range bound trading to the last day of expiry of January series.

The 50-issue Nifty was trapped in a narrow breadth of 6,058.05 and 6,025.15 before settling at 6,034.75, exhibiting a fall of 21.00 points, or 0.35 per cent.

Foreign Institutional Investors (FIIs) bought shares worth Rs 1,249.20 crore yesterday as per Sebi data.

Asia stocks ended narrowly mixed with broad losses today, as investors reacted to a weak set of earnings reports and downbeat economic data from the US. European markets were trading weak in the afternoon deals after fall in the growth of the US economic activity.

Major five losers from the Nifty were Tata Power (2.22 per cent), HDFC Bank (2.07 per cent), ICICI Bank (1.78 per cent), Ranbaxy (1.68 per cent) and Bharti Airtel (1.45 per cent).

However, country's second largest lender Punjab National Bank (PNB) was the top gainer from the Nifty with a rise of 9.41 per cent after the bank today posted 13.53 per cent rise in the Q3 net profit and also cut its lending rate by 0.25 per cent.

Other four major gainers were BoB (4.26 per cent), BHEL (2.73 per cent), DLF (2.19 per cent) and Ambuja Cement (1.82 per cent).

Turnover in the cash segment shot up to Rs 16,028.43 crore from Rs 12,065.40 yesterday. A total of 9,9999.26 lakh shares changed hands in 67,42,823 trades. The total market capitalisation stood at Rs 68,58,653 crore.

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